GBP/USD Technical Analysis: Cable closing Monday’s gap remains constructive to the upside with 1.3259 bull target

• GBP/USD is trading in a bull trend as the market is above the 200-period simple moving average.
• GBP/USD slipped below 1.3100 and bulls closed the Monday gap. GBP/USD is set to continue to grind higher as the RSI, MACD and Stochastic indicators are supportive for more gains ahead. Targets to the upside can be located near 1.3200 and 1.3259 (October 12 high).
• On the flip side, a bear breakout below 1.3100 on a daily closing basis should invalidate the bullish bias.  

GBP/USD 4-hour chart

Spot rate:                         1.3170
Relative change:               0.10%      
High:                                1.3182
Low:                                 1.3084

Main trend:                      Bullish

Resistance 1:                  1.3200 figure
Resistance 2:                  1.3259 October 12 high
Resistance 2:                  1.3300 September 20 high
Resistance 3:                  1.3370 July 9 high
Resistance 4:                  1.3400 figure

Support 1:                      1.3150 September 21 low
Support 2:                      1.3100 figure
Support 3:                      1.3050 August 30 swing high, key level
Support 4:                      1.3028 October 8 low
Support 5:                      1.3000 figure  
Support 6:                      1.2957 July 19 swing low